Space Economy

The article by Brukardt compares WWII airplanes to modern day rockets taking people and things into space. With more commercial companies investing in space it is no longer the sole domain of countries and aerospace and defense companies. As more businesses get involved with space the opportunity for innovation increases significantly.

Since the launch of Sputnik 1 in 1957 the space economy has provided the largest impact through satellite services such as communication and image collection. In addition satellites are used to monitor climate change, food security and national security by world leaders.

As the cost of launches decreases access to space increases and wider variety of businesses can get access to space. In addition to the decrease in cost for launches, satellites themselves have increasingly become smaller and more capable, allowing varying architectures of satellites and constellations to become feasible.

With the increased interest and reduced cost it is no surprise that the space sector is gaining greater investment. While the space sector has traditionally been funded by public agencies and organizations in 2021 private-sector funding topped $10 billion.

As the space sector grows there will continue to be significant cybersecurity risks that must be managed. The attack surface area will grow as more and more space infrastructure is built and deployed. As investment increases there will be more motivation for cyber attacks on the space industry for a wide variety of reasons. Ignoring the cybersecurity in the space industry will result in loss of key assets or technology, reducing investment returns and finally reducing the growth of the industry as a whole.

Brukardt, R. (2022, November 28). How will the space economy change the world? Retrieved from McKinsey & Company: